SAN ANTONIO, Texas: October 12, 2017 – MIMCO, a commercial real estate investment firm, which owns over 7.5-million square feet of real estate in Texas, announced the acquisition of City Base Landing, a 200,000-square foot shopping center in San Antonio, Texas at the intersection of I-37 and SE Military Drive.

            “We are excited to continue to grow our presence in San Antonio and build on our existing relationships with the shopping center’s tenants.” says Troy Marcus, MIMCO’s President of Central Texas.  MIMCO’s San Antonio portfolio is made up of over 1.5-million square feet of shopping centers.

City Base Landing is home to over 40 tenants, including Best Buy, Office Depot, JoAnn, Starbucks, Chick-Fil-A, AT&T, and Chili’s.  The property is shadow anchored by Walmart and Sam’s Club.

For leasing inquiries please reach out to McGee Sauls (512) 599-5777 or msauls@mimcoinc.com .

SAN ANTONIO –  CBRE Capital Markets’ Institutional Properties announces the sale of 3302 North Ellison Drive, a recently constructed, 100,260-sq.-ft., Class A office asset in San Antonio, Texas.

Radler Enterprises purchased the asset from SRP Office Holdings I, LLC for an undisclosed price. CBRE’s Gary Carr and John Alvarado, and Cushman & Wakefield’s Todd Mills and Hunter Mills arranged the transaction on behalf of the seller.

“This is a very unique investment that offered significant credit and new construction quality in the dynamic and highly sought-after San Antonio office market,” said Mr. Alvarado, Senior Vice President at CBRE. “We are pleased to have worked with the buyer and seller in a highly collaborative transaction that validated our ability to bridge capital across the State of Texas.”

The property was completed in 2017 and has an on-site parking ratio well above market standards. It is fully leased through April 2027 to a single tenant. On-site amenities include a full-service cafeteria, outdoor patio with cooking stations, multiple conference rooms, fitness center, wellness clinic and a wooded walking/running trail.

Located in San Antonio’s Northwest market, the property is easily accessible to the Raymond E. Stotzer Freeway. The property’s location in the highly desirable master-planned community of Western Hills offers immediacy to the surrounding Fortune 500 companies as well as the area’s premier shopping, residential and entertainment destinations.

 

City documents show an initial plan for the redevelopment of a prime downtown Austin block by Trammell Crow Co. The 36-story office tower would have 665,000 square feet of offices — making it the city’s largest office skyscraper — plus restaurant and retail space.

It’s the first glimpse into the Dallas-based developer’s vision for the coveted block just north of Chase Bank Tower, and was first reported by Austin Towers.

The 1.75-acre site — surrounded by Colorado, West Sixth, Lavaca and West Seventh streets — is owned by the University of Texas System. The UT System used to occupy offices on the site, although it has nearly finished relocating across the street to a new headquarters tower.

Click to read more at Austin Business Journal.

One of the biggest deals in Austin real estate history could be unfolding behind the scenes — possibly affecting more than 2.7 million square feet.

Real Estate Alert, an insider real estate publication, reports that Brandywine Realty Trust (NYSE: BDN) and its Austin portfolio partner, DRA Advisors LLC, will sell five office properties in their joint venture to Starwood Capital Group, a Connecticut-based investment company.

Brandywine, the real estate investment trust headquartered in Pennsylvania and a big investor in Austin’s commercial market during the past five years, would also buy out New York-based DRA Advisors in the remaining properties held in partnership, according to the Sept. 27 Real Estate Alert report.

Click to read more at Austin Business Journal. 

Between designing K-12 schools and federal buildings, an accomplished Austin architect found time over the past two decades to turn a slice of Westlake hillside into a scenic retreat.

Now Marc Brewster is selling the 5-acre property at 1103 Ridgecrest Drive just east of Wild Basin Wilderness Preserve.

Brewster plans to retire, perhaps overseas, said Realtor Dave Murray, who has the listing. The property landed on the multiple listing serving Sept. 20 for $3.8 million after previously being marketed privately.

Brewster designed many of the property’s features, such as a 90,000-gallon natural pool, including a grotto with a cascading waterfall. The system cost about half a million dollars to build, Murray said.

Click to read more at Austin Business Journal.